What Part Did Technological Innovation Play in the Economic Expansion

question 6

Essay

What part did technological innovation play in the economic expansion after World War II? What is the role of the transnational corporation on the dissemination of technology?

---

Definitions:

Resources Improvements

Enhancements or upgrades to the inputs used in the production process, including technology, labor skills, and machinery, leading to increased efficiency or productivity.

Technology Increase

Refers to advancements or improvements in technology that enhance productivity or efficiency.

Comparative Advantage

The capability of an entity, whether it be a person, company, or nation, to create a good or offer a service more efficiently, in terms of opportunity cost, than competitors.

Opportunity Costs

The value of the best alternative forgone in making any decision.